Group 1 - Japanese Prime Minister Kishi Sanae's provocative remarks regarding Taiwan have raised concerns about deteriorating Japan-China relations, potentially impacting Japan's economy, which is already under downward pressure, leading to fears of negative growth in Q4 [1][6][22] - The yield on Japan's 10-year government bonds rose to 1.76%, the highest since June 2008, due to market fears that Kishi's expansionary fiscal policies could worsen the fiscal situation, resulting in a sell-off of Japanese government bonds [3][5] - The Tokyo stock market experienced a significant decline, with the Nikkei 225 index dropping 3.22%, the largest drop since early April, as investors reacted to concerns over the impact of deteriorating Japan-China relations on companies with exposure to the Chinese market [5][6][20] Group 2 - Analysts indicate that the sell-off in the Tokyo stock market has spread to all stocks related to business in China, including tourism and retail companies, as investors fear the implications of Kishi's remarks on their performance [5][6][20] - Concerns about Japan's economic outlook have intensified, with experts warning that if the government does not retract Kishi's statements, the damage to the real economy could be severe [5][6][22] - The potential modification of Japan's "Three Non-Nuclear Principles" by Kishi has sparked strong opposition domestically, with various political figures and local governors expressing their disapproval [15][19][24]

包浩斯国际(00483)公布，预期该集团于截至2025年9月30日止六个月将取得亏损净额约600万港元至约 700万港元(2024年：约250万港元)。业绩未如理想主要由于零售业不景气涵盖多重结构性及周期性因 素，包括全球及本地经济不确定因素持续导致本地消费意欲低迷，以及境内旅游模式结构性转变已转变 为体验式消费，而非再集中于以购物为主的活动，导致零售收益下跌约9.6%(2025年：约7460万港 元;2024年：约8250万港元)。 ...

德永佳集团(00321)逆市涨超7%，截至发稿，涨6.32%，报1.01港元，成交额1135.79万港元。 值得注意的是，德永佳集团截至9月底的中期业绩显示，上半年派息比率约50%，全年希望维持60%至 80%派息率。另集团维持健康现金流，上半年净现金达10亿元，较3月底时增长3亿元，主要由于经营现 金增加。 消息面上，Baleno母公司德永佳集团执行副主席潘浩德指，今年双11单日销售创新高，录得超1000万元 人民币。上半年电商业务GMV同比增长46%至3.5亿港元，未来会加大电商的轻资产投资。 ...

消息面上，Baleno母公司德永佳集团执行副主席潘浩德指，今年双11单日销售创新高，录得超1000万元 人民币。上半年电商业务GMV同比增长46%至3.5亿港元，未来会加大电商的轻资产投资。 值得注意的是，德永佳集团截至9月底的中期业绩显示，上半年派息比率约50%，全年希望维持60%至 80%派息率。另集团维持健康现金流，上半年净现金达10亿元，较3月底时增长3亿元，主要由于经营现 金增加。 德永佳集团(00321)逆市涨超7%，截至发稿，涨6.32%，报1.01港元，成交额1135.79万港元。 ...

据悉，最新的应用案例是一个嵌入Microsoft Teams的全新Azure原生编排智能体，旨在帮助简化运营， 并为公司、零售和仓储环境的员工赋能。该编排智能体作为一个门户，员工可以提出问题，然后由任意 数量的后台智能体进行回答，所有交互都通过一个对话式超级智能体进行过滤。 作为其更广泛数字化转型努力的一部分，李维斯公司还依托微软Azure将应用程序工作负载从本地数据 中心迁移出去。该公司在将其私有数据中心环境整合到云端之前，使用了Azure Migrate和GitHub Copilot来规划和执行此次迁移。李维斯公司还利用Azure AI Foundry和Semantic Kernel来构建智能自动 化能力。 李维斯公司(LEVI.US)期望通过与微软(MSFT.US)的合作，致力于转型为一家直面消费者(DTC)的零售 商，通过更快速、更智能、更个性化的互动来提升全球消费者的体验，同时提高企业员工的生产力。 这家服装巨头表示，将采用微软365Copilot、Copilot Studio、Azure AI Foundry以及智能体AI编排等现代 技术，加速其向一个痴迷于粉丝、追求一流、以直面消费者为核心业务的 ...

Group 1 - The Japanese stock market experienced a significant decline, with the Nikkei 225 index falling below 49,000 points, down over 1,400 points, representing a drop of 2.83% [1] - The Japanese yen continued its weakening trend, with the euro to yen exchange rate surpassing 180 for the first time since 1999, driven by concerns over Japan's deteriorating fiscal situation [3] - Political tensions arising from provocative statements by Japanese Prime Minister Suga Yoshihide regarding Taiwan have negatively impacted consumer sentiment, leading to declines in major companies such as SoftBank Group, Tokyo Electron, and Nintendo [5] Group 2 - Analysts express concerns that deteriorating Japan-China relations could further impact Japan's economy, which is already facing downward pressure, potentially leading to negative growth in the fourth quarter [7] - The South Korean stock market also saw a significant drop, with the KOSPI index declining over 3% [7]

Core Viewpoint - The article highlights the issue of high return rates in the clothing e-commerce sector, particularly due to students returning worn clothing after events, leading to financial losses for merchants [1][8]. Group 1: Merchant Experiences - A merchant in Heze reported a loss after students returned 40 performance costumes, which were worn and could not be resold [1]. - Another merchant from Shenyang experienced a loss of approximately 80,000 yuan due to over 60 students returning clothes after a sports event, claiming quality issues [8]. - Merchants are increasingly frustrated with the high return rates, which are often not due to product quality but rather misuse of the "no reason return" policy [8]. Group 2: School Involvement - The vice principal of the school involved stated that the returns were personal actions by students, and the school had not issued any return instructions [6]. - The school paid a deposit to the merchant and planned to handle refunds after students returned the items [6]. Group 3: E-commerce Platform Response - The e-commerce platform's customer service suggested that merchants file complaints regarding returns that exceed seven days and show signs of use, indicating a process for reviewing such cases [4]. - The platform aims to protect merchants' rights by potentially reversing incorrect refund decisions [4]. Group 4: Industry Trends - Some merchants are implementing measures to prevent misuse of return policies, such as attaching large tags or locks to clothing to deter customers from returning worn items [8][12]. - The trend of high return rates in the clothing sector is causing significant distress among merchants, prompting them to seek innovative solutions to mitigate losses [8].

Core Points - A clothing store owner in Heze reported economic losses due to students returning purchased performance costumes after use, which could not be resold [1][2] - The store owner expressed frustration over the condition of the returned items, which showed clear signs of use beyond the 7-day return policy [2] - The e-commerce platform's customer service suggested that the merchant file a complaint to protect their rights, indicating a review process for disputed refunds [4] Group 1 - A school official stated that the students acted individually without any instructions from teachers regarding returns, acknowledging the school's responsibility in the matter [6] - The school paid a deposit to the merchant and will adjust payments after the students return the items [6] - A similar incident occurred in Shenyang, where over 60 students returned clothing after an event, leading to significant losses for the store owner [7] Group 2 - High return rates in certain categories, particularly clothing, have caused distress among merchants, with many returns not related to product quality but rather exploiting the return policy [7] - Some merchants have implemented measures like oversized tags to deter misuse of the "no reason return" policy [7] - A Beijing clothing merchant resorted to using a visible lock on clothing zippers to prevent customers from returning items after wearing them, indicating a growing trend of protective measures among retailers [11]

另据报道，德永佳集团执行副主席潘浩德指，今年双11单日销售创新高，录逾1000万元人民币。上半年 电商业务GMV同比增长46%至3.5亿港元，未来会加大电商的轻资产投资。此外，零售业务方面，德永 佳执行董事兼行政总裁何丽康期望，下半财年业务亏损继续收窄。 德永佳集团(00321)涨超5%，上一交易日大涨超11%。截至发稿，涨5.56%，报0.95港元，成交额1143.27 万港元。 消息面上，德永佳集团近期发布截至2025年9月30日止6个月的中期业绩，该公司取得收益约27.12亿港 元，同比减少约9.65%；公司普通权益所有者应占溢利约1.12亿港元，同比增加约10.62%；每股股息4港 仙。公告称，溢利增加主要受惠于集团在成本控制及营运效率提升方面持续努力所得的成果。 ...

消息面上，随着中日在台湾问题上的外交裂痕加，文化和旅游部郑重提醒中国游客近期避免前往日本旅 游，已在日中国游客密切关注当地治安形势，提高安全防范意识，加强自我保护，如遇紧急情况，请及 时报警并联系驻日使领馆寻求协助。 中国文化和旅游部昨日发布消息，提醒中国游客近期避免前往日本旅游，港股迅销(6288.HK)跌超7%， 报26.2港元。 ...